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Thanks people?.that pretty much answers my question Further to my question, does this mean that even though the loan balance is >$100k the interest deductibility would only be calculated on the $100k portion and the interest on the >$100k would not be deductible. Thx Nick

Hi All, This may seem like a relatively simple question but would appreciate some clarification. If an IP is purchased for say $100k and LMI, stamp duty, initial strata, water, council rates etc are all added to the loan balance then how are deductions claimed on these expenses if they...